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D grade celebrity
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Melbourne's best retail address is about to get a while lot better
Myer is proud to unveil the inspirational transformation of its iconic Bourke Street store.
Scheduled to be completed by the end of 2009, the new Myer Melbourne will feature:
A state-of-the-art shopping environment, inspired by some of the world’s great retailers in London, New York and Paris;
An awe-inspiring glass-domed cultural centre, featuring fine dining, fashion parades, and other events;
Retention of the classic Myer windows in their current form;
Enhancement of the heritage-listed Mural Hall;
Retention of more than 90% of the existing retail floor space; and
Environment-friendly features, such as water harvesting and extensive natural light and ventilation.
It will be business-as-usual as we count down to December 2009, and you’ll notice some changes along the way.
But some things won’t change.
The same friendly staff will be providing the renowned Myer service every step of the way!


I received this email today from Myer about the renovations for the flagship store.... Interesting stuff
 

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Developer
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7,686 Posts
Wasn't expecting that! About time I say. Looks like all the windows on Bourke are uncovered as well, beautiful.
 

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Agent of Change
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7,222 Posts
This is the single greatest thing ever, better than the Big Bang. What's the deal with those gift wrapped buildings at the rear.
 

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Lord Melbourne
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Hopefully the gift wrapped boxes are just placeholders till they are actually designed. Looks pretty funky, sounds like it'll be good for the store.
 

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Agent of Change
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Myer site redevelopment progress
June 21, 2007 - 6:34PM

A group made up of Colonial First State Retail Property Trust, GIC Real Estate and the Myer Family Company Ltd has won the exclusive right to negotiate over the purchase and redevelopment of the Myer site in Melbourne.

The Myer Melbourne store, on Bourke St and Lonsdale St in the centre of the city, has been the object of a tug-of-war between the CFS consortium and property developer Lend Lease Corp Ltd - the last two parties vying to snap up the iconic retail property.

The consortium's proposal, which will form part of negotiations with Myer Pty Ltd, involves the complete restoration and refurbishment of the Bourke St store.

The store will then be leased back to Myer.

Historic store revamp under sale deal

By Jamie Duncan

June 21, 2007 07:55pm
RETAILER Myer's historic Bourke Street department store in Melbourne will undergo a multi-million dollar refurbishment, but its hold on the neighbouring Lonsdale Street store will end after more than 70 years under a new sale deal.

A consortium comprising the Colonial First State (CFS) Property Trust, GIC Real Estate and the Myer Family Company will buy the Bourke Street and Lonsdale Street sites from Myer Pty Ltd.

Myer Pty Ltd will then lease back the Bourke Street site, which will be redeveloped for the retailer by 2009.

The project includes a domed cultural centre; retention of the Bourke Street windows, home to Myer's traditional Christmas window display; enhancement of the mural hall and green initiatives such as water harvesting and the extensive use of natural light and ventilation.

The store will be extended into a neighbouring building in Bourke Street, now occupied by Telstra.

Administration offices housed at Lonsdale Street would be shifted off-site.

Myer chief executive Bernie Brookes said the new Bourke Street store would have 42,000sq m of retailing space, only 4000sq m less than the present Bourke and Lonsdale street sites combined.

Building work would be staggered to minimise inconvenience to shoppers, Mr Brookes said.

“This will be a retail experience and a shopping environment that Australia has never seen before,” he said.

“Myer Melbourne is the flagship store for our company and an icon in Melbourne.

“The commitment of Myer to this city remains steadfast, as reflected by the extended lease we are signing.”

Myer has occupied the Bourke Street store since 1914. The first stage of its Lonsdale Street premises opened in 1926.

The Myer chain was established by Russian immigrant Sidney Myer, who opened his first shop in the Victorian goldfields city of Bendigo in 1900.

The retailer became part of the Coles Myer conglomerate in the 1980s and remained so until it was sold to a consortium, which included the Myer Family Company, a year ago.

The CFS Property Trust has a large portfolio of retail complexes including the Chadstone and Chatswood Chase shopping centres in Melbourne and Sydney, and Brisbane's QueensPlaza.
 

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Champagne Socialist
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A-HAH! I said not 6 months ago "I wish someone would do a Selfridges in Birmingham to Myer Melbourne"

*looks at above posted picture* :) :) :)

for reference:

 

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Overwatch Nexus
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1,865 Posts
Wow! This is fantastic, finally this historic building is going to get the love and attention it has been denied for so many years. To have the facade properly restored and the windows uncovered, a long needed upgrade of the interior, which is just a shambles at the moment, and this glass dome center on the top?? GREAT NEWS. :banana:
 

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Developer
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Looks like three new 40m high buildings on the Lonsdale side of Little Bourke with laneways in between. It's hard to tell from that pic what is happening to the buildings on Londsale Street but it looks like major changes.
 

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Registered Abuser
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I never expected anything like this. I thought just a clean up inside, not a complete redesign! Kudos to Myer for the guts to go ahead. :banana:
 

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Registered
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OMG!! For me this is the absolute news of the year so far!!:banana:
Forget your 'Power Station' and 'CUB' sites - they were kinda predictable. This one's a complete bolt-outta-the-blue (and therefore SO much better for it).

Actually, I was just in Selfridges London tonight and was wandering around thinking how much I wished Myer was like it. It's just so 'glamorous', for want of a better word. And then I come home to find this news!! WOW.

Good on ya Myer.
 

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Registered
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Says in the Age this morning that the Lonsdale St facade will remail, but that the rest of the site will be turned into multiple building connected by laneways. TOTAL HOTNESS!!! Well nearly - the need to buy the arcade on the cnr of Lonsdale and Elizabeth and incorporate that for it to reallly realy work wonders. The article also says that there will only be two levels of retail - so I think we can forget about the skybridges staying around. Which rocks :banana2: :cucumber: :pepper: :carrot: :cheers:
Hey and this is my 200th post! Yay for me! :cheers:
 

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The bridge over Little Bourke is on the Victorian Heritage Register and so most probably wont be removed. And I don't see why they would need to remove the Lonsdale Bridge. It would too expensive to do and it would provide the new owner with easy access to MC from the old Lonsdale Myer store. The bridges are positives not negatives when it comes to developing these sites.
 

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^^ Dockman, you're right about the windows......

http://www.theage.com.au/news/busin...g-the-old-store/2007/06/21/1182019283556.html

From The Age

Myers pop up in consortium buying the old store
Michelle Draper and Ben Schneiders
June 22, 2007

THE Myer family has emerged as a surprise part of the consortium buying the Bourke Street department store that its forbears founded nearly 100 years ago.

The consortium is believed to be paying more than $550 million for the historic buildings on Bourke and Lonsdale streets.

That price, although still under negotiation, will exceed initial expectations that they would sell for about $400 million.

The Myer Family Company has joined forces with Colonial First State Retail Property Trust and GIC Real Estate to buy the site.

The parties have now entered into exclusive negotiations with Myer Pty Ltd to finalise the deal, which could take another two to three weeks.

The Myer Family Company is also a shareholder in Myer Pty Ltd. Myer chief executive Bernie Brookes said Myer family representatives sat out board discussions on the deal, under which the department store's operator would lease back the Bourke Street store for 60 years.

The consortium intends that Myer lease the building during redevelopment that is expected to take five years.

Work will be undertaken to restore the heritage facade of the Bourke Street store, refurbish the Mural Hall and preserve the windows lining Bourke Street.

A dome the size of a giant football field that could rise as high as 10 metres is to be built on the roof of the Bourke Street store. It will be used for fashion parades, as a cultural centre and as a food precinct.

Under the consortium's plan, the facade of the Lonsdale Street building will be retained but the building will be broken up into five separate buildings reaching up to 10 storeys high, connected via a series of laneways.

CFS Retail Property Trust fund manager Michael Gorman said the Lonsdale Street redevelopment would include two to three levels of shops, with offices and either a hotel or apartments above.

"I think it will be a really innovative development and it's something really only Melbourne can offer," he said.

Mr Gorman spruiked the trust's retail credentials and existing Melbourne portfolio as evidence it was well placed to reposition the sought-after asset.

He said about 60 per cent of CFS Retail Property Trust's assets were in Melbourne, including Chadstone, Northland and Bayside (Frankston) shopping centres. "We know Melbourne and the Myer family knows Melbourne," he said.

The sale of the Myer buildings, announced in March, led to a who's who of Australian property developers and fund managers mounting competitive campaigns to acquire the assets.

Those that missed out included Lend Lease, GPT, ISPT and AMP.

The Myer retail chain and its central Melbourne property assets were sold by the former Coles Myer last year for $1.4 billion to a consortium that included US-based Texas Pacific Group and the Myer family.
 

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Mr Superstar
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Sexy news for Melburnia.

Why do you guys get it so lucky? Huh. Totally unfair.

:lol:
 

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Registered
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Bourke Street facade
1934


1945


Lonsdale Street facade
1929


Little Bourke Street (Lonsdale Street Building) facade
1929


Little Bourke Street (Bourke Street Building) facade
1929


 
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